On 26 October AOF reported that it is at risk of breaching one of its financial year end banking covenants, relating to interest coverage ratio and that a formal waiver of the breach was to be sought from the bank.
The Bank has now advised that it waives its right to take further action in relation to this potential breach.
The S&P/NZX 50 Index rose 97.07 points, or 0.8%, to 12,447.68.
Fletcher Building subsidiary Iplex Australia to cover 80% of repair costs.
The bus operator's net loss widened from $8m to $17m in the year to March 31.
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